Completes Initial Public Offering
COPPERCORP RESOURCES INC.
COMPLETES INITIAL PUBLIC OFFERING
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
VANCOUVER, BC
,
Jan. 12, 2022
/CNW/ - CopperCorp Resources Inc. ("
CopperCorp
" or the
"
Company
") (TSXV: CPER) is pleased to announce that it has successfully completed its initial
public offering ("
IPO
"), resulting in the issuance of 10,000,000 common shares in the capital of the
Company (each, a "
Share
") at a price of
$0.50
per Share for total gross aggregate proceeds of
$5,000,000
.
Haywood Securities Inc. ("
Haywood
") acted as agent for the IPO. The Company paid Haywood a
cash commission of
$230,780
and a corporate finance fee, comprised of
$25,000
in cash and
50,000 Shares plus GST of
$2,500
.
Following the completion of the offering, CopperCorp has 66,225,365 shares issued and
outstanding. CopperCorp's common shares were approved for listing on the TSX Venture Exchange
(the "
TSXV
") effective
January 11, 2022
and are expected to commence trading on the TSXV on
January 14, 2022
under the trading symbol "CPER".
The proceeds will be used by the Company to fund its exploration program on its Alpine mineral
property located in
Tasmania, Australia
, and for general working capital purposes.
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under
the
United States
Securities Act of 1933
, as amended (the "
U.S. Securities Act
") or any state
securities laws and may not be offered or sold within
the United States
or to a U.S. Person unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
About CopperCorp
CopperCorp is a mineral exploration company actively focused on the exploration of copper in
Tasmania, Australia
. Its objective is to explore, locate and potentially develop economic precious
and base metals properties of merit. The Company may in the future explore for minerals outside of
Australia
. The Company is the registered owner, through its wholly owned subsidiary Georgina
Resources Pty Ltd, of certain mineral exploration licenses and claims located in
Tasmania, Australia
.
CopperCorp is based in
Vancouver, British Columbia
, and is listed on the TSXV under the symbol
"CPER".
For more information, please refer to the Company's prospectus dated
November 10, 2021
, which is
available under the Company's profile on SEDAR at
www.sedar.com
.
ON BEHALF OF THE BOARD
"
Stephen Swatton
"
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
:
This news
release includes certain "forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements consist of statements that are not purely historical,
including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Such forward-looking statements in this news release include, but are not limited to, statements
regarding the trading of the Shares on the TSXV and the intended uses of proceeds of the IPO.
Such statements are subject to risks and uncertainties that may cause actual results, performance
or developments to differ materially from those contained in the statements, including risks related
to factors beyond the control of the Company. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if they do occur, what benefits the
Company will obtain from them. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as required
by law.
Neither
TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE
CopperCorp Resources Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/January2022/12/c1602.html
%SEDAR: 00051014E
For further information:
Stephen Swatton, Chief Executive Officer, Tel: 1 (604) 970-8032, Email:
CO: CopperCorp Resources Inc.
CNW 13:03e 12-JAN-22